Rautaruukki continues to simplify group's legal structure

Rautaruukki Corporation Stock Exchange Release 6 Feb 2006 at 15.05

 

At its meeting on 6 February 2006, the Board of Directors of Rautaruukki Corporation approved plans to merge the company's fully owned subsidiaries Velsa Oy, Etnarör Ab, and PPTH Steelmanagement Oy and its subsidiaries, with the parent company. The boards of the subsidiaries have for their part decided on merging on 6 February 2006.

 

All the subsidiaries will be merged without paying any merger consideration and the goal is to complete the mergers by 1 August 2006.

 

The mergers will simplify the Group structure and cut fixed costs. The Group has been reducing the number of legal entities since 2004.

 

The PPTH sub-group is the leading constructor with steel in the Nordic countries and Rautaruukki Corporation acquired its full share stock on 18 January 2006.

 

Velsa Oy is the leading manufacturer of cabins for mobile machines in the Nordic countries and was acquired by Rautaruukki Corporation on 1 November 2004. Etnarör Ab is a real estate company.

 

The companies will use the Ruukki marketing name and logo.

 

Further information:

Tiina Bäckman, Corporate General Counsel, tel. +358 (0)20 592 9068

 

Rautaruukki Corporation

 

 

Taina Kyllönen

VP, Corporate Communications

 

 

Ruukki supplies metal-based components, systems and turnkey deliveries to the

construction and mechanical engineering industries. The company has a wide

selection of metal products and services. Ruukki has operations in 23 countries

and employs 12,000 people. Net sales in 2004 totalled EUR 3.6 billion. The

company's share is quoted on the Helsinki Exchanges (Rautaruukki Corporation:

RTRKS).

 

 

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